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Synergon targets annual revenue of HUF 30bn in 2-3 years

Hungarian IT company Synergon aims to raise its consolidated annual revenue to around HUF 30bn in 2-3 years and wants to expand abroad, through organic growth or with acquisitions, chairman Zoltan Jeszenszky said at a press conference on Thursday, a day after the company published its Q3 report.

Synergon had consolidated revenue of HUF 12.8bn in Q1-Q3, the company said in its report on Wednesday.

Synergon will continue to focus on those activities at which it is better than its competitors, offering companies service packages, that is, complete IT solutions, said CEO Zoltan Jutasi. The company will place great stress on cloud computing in the future, he added.

Synergon no longer wishes to deliver systems independently, rather it wants to operate networks and provide tailor-made solutions, he said.

Synergon has cut staff by more than 10%, drastically reduced the size of its motor fleet and moved into a new, cheaper office, Mr Jutasi said. Costs cuts are continuing and savings will still be seen at the end of this year and the beginning of next year, he added.

Synergon’s stock of orders is worth more than HUF 10bn at group level, he said.